Skip to content
BOL Conferences
Thread Options
#210721 - 07/14/04 02:42 PM helocs and the cut date for the statements
Anonymous
Unregistered

Our heloc customers will have a new statement date. The payment date will also change.... Are there are requirements under Reg Z as to notifying the customers in advance, like 30 days?
Thanks.

Return to Top
Lending Compliance
#210722 - 07/14/04 03:47 PM Re: helocs and the cut date for the statements
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
Look at the OSC to 226.5b(f)(3)(v) and 226.9(c)(3) & (c)(1).
Last edited by dpersfull; 07/14/04 03:48 PM.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#210723 - 07/14/04 09:45 PM Re: helocs and the cut date for the statements
Anonymous
Unregistered

I think the first citation refers to if it is an insignaficant change, the notification requirement does not apply...the other citations refer to notice requirements...

Return to Top

Moderator:  Andy_Z